Netflix Acquires Proper to Stream Sony Movies, Like Spider-Man, After Theatrical Run

Netflix and Sony Footage have struck a deal that may hold upcoming Spider-Man movies and different choices from Sony Footage on Netflix after they end in theaters, the Wall Street Journal stories.The reportedly multi-year contract will begin with Sony’s 2022 movie slate. Netflix can have first-look rights to motion pictures Sony is producing or licensing for streaming platforms. The variety of movies Netflix has dedicated to ordering is presently undisclosed. Notably, the deal does not cease Sony from promoting streaming rights to different platforms.

Sources chatting with Variety additionally mentioned that the deal will quantity to a record-setting sum for a pay-one window settlement. The deal is reportedly set to final 5 years and price upwards of a number of hundred million {dollars} yearly.

So what has Netflix undoubtedly earned for its cash? WSJ stories that future Spider-Man motion pictures will land on Netflix following their theatrical runs (it is unclear if Tom Holland’s Spider-Man: No Approach House is included within the deal), together with different Marvel characters Sony stills holds the rights to, like Jared Leto’s Morbius and Tom Hardy’s Venom. Netflix will even license sure older Sony Footage movies.

Movies from studios beneath Sony’s umbrella will even be included, such because the Jumanji franchise. These studios embrace Columbia Footage, Sony Footage Classics, Display Gems, and TriStar Footage.

Sony executives are additionally reportedly engaged on a further theatrical movie licensing settlement past the Netflix deal, Selection stories.

Sony has beforehand partnered with Starz for its theatrical streaming agreements since 2006. The Netflix deal solely covers the US. Traditionally, pay-one window agreements permit for movies to hit streaming platforms about 9 months after a theatrical run.Netflix and Sony’s relationship has strengthened in recent times, with the studios agreeing on streaming rights for Sony’s animated movies, together with Spider-Man: Into the Spider-Verse. Sony’s announcement definitely hopes to assuage any fears that it is taking a look at letting go of theatrical releases in a world difficult by COVID-19. Sony says the deal shall be “additive” to its theatrical schedule, “which can proceed at its present quantity.”

Joseph Knoop is a author/producer for Piece Enterprise.

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